In New Jersey, when a  contract to purchase a home is signed, it is not binding, until it's out of "attorney review". What this means to a buyer is that another buyer can come along and outbid you during this period. And to sellers, it means that your neighbor's house with the new gourmet kitchen can come on the market and lure away your buyer. This is why its in the best interest of all parties to  hire competent REAL ESTATE attorneys who will protect their interests with protective clauses, and at the same time get them out of attorney review quickly.

Sounds simple, right? Well, if you follow this advice, you will be protected, and also have a much smoother transaction.

1. Hire a recommended LOCAL REAL ESTATE attorney, Notice I didn't just say attorney. They should ONLY be practicing real estate law. A local lawyer will know what's customary. If you're purchasing in Short Hills, Summit, Chatham, Maplewood and other towns in our area, they will know when to add a clause in about an oil tank sweep. They'll know which areas have had flooding issues. They've dealt with zoning,permits in Millburn, Summit or Maplewood town halls and are familiar with the local home inspectors and their reports. They know who to call for asbestos removal, and they know reputation of different builders, etc.... I have 4 real estate attorneys who I work with on a regular basis who really know their stuff.  Email me & I'll pass along those names. Its not a bad idea to interview a few attorneys before choosing one to see who's style works best for you.

 2. Before hiring the attorney, find out if he/she will be going on vacation any time during the next few weeks or if he/she has anything going on which will affect availability.   NOT Returning phone calls & not responding to attorney review letters in a timely manner is one of my biggest pet peeves. I know that the lawyers I work with on a regular basis will NOT put my files under the pile on their desk. You need to feel confident that the attorney you choose will be available to you.

3. Inspection "Requests" or Inspection "Demands".... Make sure you approve the  attorney's  letters  before they go out.   I have found that when I'm trying to get through inspection issues with my buyer, sometimes the attorney "inspection demand" letters (which I would prefer to call "inspection requests") are worded so strongly, that it immediately puts the seller's in a defensive mode.  When I bought my house in New Jersey ( after having sold real estate for many years in Philly, where we handled everything ourselves and rarely used attorneys), I used the attorney recommended by a friend, instead of one recommended by my realtor. Big mistake.  She shot off letters without my approval, and when I read the harsh sounding "inspection demands" letter,  I found myself calling the sellers and apologizing for the threatening tone of the letter.  Afterall, didn't our parents teach us that you catch more flies with honey?

4. Over the years I have categorized real estate attorneys into 4 types:

First:  "My way or we kill the deal",

Second: " I'll fight for whatever my client wants no matter how unreasonable the request may be, and NOT advise him. I'm my client's puppet."

Third: "I don't have the time to be bothered with returning calls. I'm too busy. Oh, closing is tomorrow? Oops, I forgot to order the mortgage payoff.  "

Fourth:" I am my client's advocate, and at the same time, it is my job to advise my client on what is  reasonable.  If I can't get anywhere with the other lawyer ( who is type 1,2 or 3), I'll have my clients work it out through the realtors. The smoothest transactions are when we are all working together to resolve the issues in a timely manner.

Which type of attorney would you like to represent you?

Sue Adler is the #1 Keller Williams Agent in New Jersey for 2005, 2006, and 2007 year to date. Visit http://www.sueadler.com/ to view real estate listings, search the mls, home sale prices and statistics, school & local information.

 

 
This post has been included in New Jersey Information

4 Comments on Hiring A Real Estate Lawyer in NJ: Your advocate or Your deal killer?

I feel your pain concerning RE Attorneys. In my area they are mandatory. I've dealt with those who fit each of your categories.  

08/29/2007 01:06 AM by Rosario Lewis, GRI ~ DDR Realty, Orange County, NY (DDR Realty)


Dear Sue,

Thanks for the reminder about all the real estate attorneys and the chaos we sometimes have to go through. I just recently moved from Florida, back to NJ where I am originally from. In Florida we did not use attorneys and life was so sweet! But now it's back to reality here in NJ. They can really make life easy or make your life and everyone elses, miserable.

I'm also brand new to Keller Williams. Previously with Re/Max. Just attended Mega Camp in Austin. I see that you are also with KW. I'm thrilled to be with the company. It feels like such a good fit for me. Hopefully we will meet one day at one of the conventions, seminars, etc. Mega Camp was awesome. It was there that I found out about Active Rain.

I was also very involved in The Women's Council of Realtors in Florida. A dynamite organization. I already miss the Florida Chapter terribly. But am excited to now be a part of Women's Council here in NJ which is really still in its infancy stage. Are you currently a member, if so, which Chapter? If not, you'd be wise to check us out. If you'd like more info...just give me a buzz.

Have a great day!

 

08/31/2007 09:52 PM by Claudia Clausen - Middlesex County Real Estate (Keller Williams Elite Realtors)


Hi Claudia,

I attend KW mega camp in Austin every year and always walk away with something new that takes my business to another level.  Best advice I can give you re: the attorneys is- just like with mortgage brokers, team up with a few good ones, and your clients will thank you. Good luck!

Sue

 

09/01/2007 07:52 AM by Sue Adler (Keller Williams of Essex, Union & Morris Counties)


Sue, thanks for the reminder that it is not all wonderful to deal with attorneys all the time.  The real estate in the three jurisdictions that I work in MD, DC, VA don't have attorneys involved in the contracts typically.  That puts a great burden on the agents and to ensure that everything is correct and bulletproof should an attorney become involved.  Great post!

09/01/2007 08:26 AM by Yvette Chisholm (Long & Foster Real Estate, Inc.)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Sue Adler (Keller Williams of Essex, Union & Morris Counties)
Sue Adler
Short Hills, NJ
More about me…
Keller Williams of Essex, Union & Morris Counties

Office Phone: (908) 273-2991 Ext.: 101
Cell Phone: (973) 464-9129
Email Me
Market updates & home buying and selling advice for real estate in our awesome NJ towns. Expert advice from Sue Adler, the #1 Keller Williams Agent in New Jersey for 2005,2006 & 2007 YTD.

Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find NJ real estate agents and Short Hills real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved